RB Capital Management LLC Purchases 18 Shares of AutoZone, Inc. $AZO

RB Capital Management LLC grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 684 shares of the company’s stock after acquiring an additional 18 shares during the period. RB Capital Management LLC’s holdings in AutoZone were worth $2,539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AZO. Vanguard Group Inc. boosted its stake in shares of AutoZone by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company’s stock valued at $6,709,967,000 after purchasing an additional 13,643 shares during the period. JPMorgan Chase & Co. boosted its position in AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after purchasing an additional 65,368 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company’s stock valued at $2,936,535,000 after buying an additional 770,005 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AutoZone by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock worth $1,331,870,000 after purchasing an additional 24,701 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in AutoZone by 4.3% in the 1st quarter. Alliancebernstein L.P. now owns 158,487 shares of the company’s stock worth $604,276,000 after acquiring an additional 6,549 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE:AZO opened at $4,327.37 on Friday. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,388.11. The firm has a 50-day moving average of $3,989.84 and a two-hundred day moving average of $3,776.14. The stock has a market cap of $72.62 billion, a P/E ratio of 29.29, a PEG ratio of 2.30 and a beta of 0.41.

Insiders Place Their Bets

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares in the company, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Roth Capital set a $4,135.00 price objective on AutoZone and gave the company a “buy” rating in a report on Monday, June 2nd. Bank of America upgraded AutoZone from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Truist Financial set a $3,995.00 price target on AutoZone in a report on Friday, May 23rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. lifted their target price on AutoZone from $3,830.00 to $4,350.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $4,229.38.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.